Eaton Co. plc (NYSE:ETN) Shares Purchased by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. grew its position in shares of Eaton Co. plc (NYSE:ETN) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,121 shares of the industrial products company’s stock after purchasing an additional 6,108 shares during the quarter. Eaton makes up about 1.4% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 20th largest position. Adell Harriman & Carpenter Inc.’s holdings in Eaton were worth $18,601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Wealth Partners Ltd. boosted its stake in Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares during the period. Legacy Capital Group California Inc. grew its holdings in shares of Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after buying an additional 32 shares during the last quarter. Well Done LLC increased its position in Eaton by 1.3% in the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after acquiring an additional 33 shares during the period. J.W. Cole Advisors Inc. raised its stake in Eaton by 1.7% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,053 shares of the industrial products company’s stock valued at $644,000 after acquiring an additional 35 shares during the last quarter. Finally, Front Row Advisors LLC grew its stake in shares of Eaton by 0.4% in the 2nd quarter. Front Row Advisors LLC now owns 7,842 shares of the industrial products company’s stock valued at $2,459,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Price Performance

ETN stock opened at $345.55 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56. Eaton Co. plc has a 1 year low of $196.12 and a 1 year high of $349.74. The stock’s 50 day moving average price is $320.85 and its 200 day moving average price is $317.88. The firm has a market cap of $137.56 billion, a P/E ratio of 38.01, a PEG ratio of 2.62 and a beta of 1.02.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, sell-side analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.09%. Eaton’s dividend payout ratio (DPR) is presently 41.36%.

Insider Activity

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Dorothy C. Thompson acquired 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 over the last quarter. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ETN. Raymond James decreased their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Citigroup assumed coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Evercore ISI dropped their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, Barclays raised their price target on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $340.06.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.